Word: dollarization
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...just refineries that are vulnerable; five oil rigs were evacuated Monday in the eastern and central Gulf, where Katrina had already sent massive half billion dollar oil rigs off their moorings and laid waste to vital infrastructure. The conditions created by Katrina in the Gulf industry are "unmatched" in history, says Johnnie Burton, director of the federal Minerals Management Service. Since August 26, according to the latest MMS bulletin issued this week, Katrina has already caused the loss of almost five percent of annual Gulf production, or some 547 million bbls...
...chaotic jumble of tat on sale?you'll come across everything from Christmas decorations to carvings of decidedly non-native lions and giraffes. The paintings also betray a m?lange of foreign influences, with pseudo-Impressionism and faux-Expressionism finding particular favor among local daubers targeting the tourist dollar...
...NINA WANG, 68, Asia's richest woman; an eight-year legal battle for control of her dead husband's multibillion-dollar real-estate empire; in Hong Kong. The Court of Final Appeal unanimously overturned a 2002 ruling that a will in which husband Teddy Wang left her his entire estate had been forged; the industrialist was kidnapped in 1990 and declared legally dead nine years later. Nina Wang, famous for her schoolgirl pigtails and flamboyant fashion sense, now regains full control of the Chinachem Group, the company that she built into a $3.5 billion enterprise after taking control following...
...crucial housing issue is ultimately handled--much like the final bill for rebuilding the Gulf--is anybody's guess. For all the imposing dollar figures and bold proposals being bandied about, it's clear that Washington is making this up as it goes along. "It's going to cost whatever it costs," is how the President put it last week. Given the battering his reputation has taken in the past few weeks, that open-ended approach makes perfect sense. After all, no matter what it ends up costing, the White House has learned that the price of inaction is much...
...headaches: Where will he find customers? No tourists are allowed in the city. Where will he house his workers? That is, if he can get them back from Tucson and Dallas and other cities where they have scattered. Will he find willing workers with the construction business paying top dollar for the few bodies around? "Restaurants are what make New Orleans special. When are the tourists going to be back?" says Reggio. "It's one thing to get restaurants operating-we can do that with hard work-but who's going to help restaurants survive after they re-open?" Still...